Investors concerned about the volatile market may have some relief ahead, according to technical analyst Katie Stockton.
She told CNBC on Wednesday that she sees "very bullish" signs in the chart.
If the index doesn't dip below 2,640 this week, it should be an all-clear for stocks to rally, she said on "Closing Bell."
Stockton, founder of Fairlead Strategies, which specializes in technical chart analysis, pointed to indicators that show the S&P is oversold in the intermediate term.
"You also have big extremes in breadth and sentiment and leadership that we really don't often see," she added.
Stocks rose Wednesday, but well off their highs of the day, as trade war concerns appeared to ease. The Dow Jones Industrial Average ended the day 157.03 points higher at 24,527.27, but had risen as much as 458.05 points in afternoon trading. The S&P 500 climbed 0.5 percent to close at 2,651.07.
Wednesday's action followed another volatile session on Tuesday that saw the Dow close lower after swinging about 500 points.
"With Amazon and Apple's help, I think the market will do better," she said.
Like the S&P, Apple also is oversold in the intermediate term, according to Stockton. "It doesn't have a buy signal yet. It doesn't have that improved momentum that we're seeing in other areas of technology. But I think it's only a matter of time," she predicted.
Stockton believes it is essential for Apple to hold at $168 a share, however, for that to happen.
On the other hand, Amazon, also oversold, has a clear buy signal as long as the stock holds above $1,525 to $1,560 a share, she said.
"It's very infrequent we get these kind of opportunities in a large-cap technology or discretionary stock," she said. "We might look back and say it's a missed opportunity if we didn't take it."
— CNBC's Fred Imbert contributed to this report.